Special Data Dissemination Standard
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| The Data: Coverage, Periodicity, and Timeliness | |
| Coverage characteristics | 5.1.1 Statistical presentation Data are published on the spot exchange rates for the Hong Kong dollar against 15 foreign currencies. Data are also published on the three-month and six-month forward premium/discount (expressed in number of pips - 1 pip equals 0.0001 unit of the exchange rate) for the Hong Kong dollar against the US dollar. The forward rates can be derived by adding the premium, or subtracting the discount, from the spot exchange rate. Both the spot exchange rates and the forward premium/discount rates are based on the average closing middle market telegraphic transfer rates supplied by the Hang Seng Bank Limited. Notes: |
| Periodicity | 4.1.1 Periodicity Daily Notes: |
| Timeliness | 4.1.2 Timeliness At 17:00 (local time) on the same business day Notes: |
| Access by the Public | |
| Advance dissemination of release calendar |
5.1.3 Advance release calendar Not applicable. Daily data are available daily.Flexibility Notes: |
| Simultaneous release to all interested parties |
5.1.4 Simultaneous release The daily rates are available daily on request from the Research Department of the HKMA. Daily rates are also published in the Monthly Statistical Bulletin. |
| Integrity | |
| Dissemination of terms and conditions under which official statistics are produced, including those relating to the confidentiality of individually identifiable information |
0.1.1 Responsibility for collecting, processing, and disseminating statistics Hong Kong Monetary Authority The Exchange Fund (Amendment) Ordinance 1992, which provides the Financial Secretary with the power to appoint a Monetary Authority to assist him in the performance of his functions under the Exchange Fund Ordinance (Cap. 66), came into operation on 1 April 1993. Section 7 of the Exchange Fund Ordinance requires that the accounts of the Exchange Fund be audited in accordance with the directive of the Chief Executive of Hong Kong SAR . Exchange rates The HKMA publishes the data on exchange rates as a service to the public. 1.2.1 Disclosure of terms and conditions for statistical collection, processing, and dissemination Hong Kong Monetary Authority The Exchange Fund Ordinance is published in the Laws of Hong Kong Special Administrative Region which is accessible to the public and is available on the website of the Department of Justice (http://www.legislation.gov.hk/eng/home.htm). |
| Identification of internal government access to data before release |
1.2.2 Internal governmental access to statistics prior to release There is no internal government access to the data before their release to the public. |
| Identification of ministerial commentary on the occasion of statistical releases |
1.2.3 Attribution of statistical products There is no ministerial commentary in the statistical releases on the exchange rate data. |
| Provision of information about revision and advance notice of major changes in methodology |
4.3.1 Revision schedule The data on exchange rates are final when first released and are not revised. In the event of any important changes in methodology, they are announced in advance or at the time the data are released. 1.2.4 Advance notice of major changes in methodology, source data, and statistical techniques. The data on exchange rates are final when first released and are not revised. In the event of any important changes in methodology, they are announced in advance or at the time the data are released. |
| Quality | |
| Dissemination of documentation on methodology and sources used in preparing statistics |
5.2.1 Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques Brief explanatory notes are provided in the Monthly Statistical Bulletin. Definitions on terms and concepts can be found from the on-line Guide to Hong Kong Monetary and Banking Terms ( http://www.hkma.gov.hk/eng/publications-and-research/reference-materials/monetary-and-banking-terms.shtml). |
| Dissemination of component detail, reconciliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness |
4.2.1 Internal consistency Effective exchange rates: The nominal effective exchange rate index is calculated as the weighted average of nominal exchange rates of Hong Kong dollar against currencies of 14 principal trading partners. The principal trading partners are selected according to the value of merchandise trade with Hong Kong. Base period of the nominal effective exchange index is January 2000. For more details on the nominal effective exchange rate index, please refer to the feature article in the December 2001 issue of the Hong Kong Monthly Digest of Statistics published by the Census and Statistics Department. |